IT drags Indian shares at the open; TCS drops 3%

BENGALURU: Indian shares opened lower on Tuesday, dragged by IT stocks, after Tata Consultancy Services’ holding arm announced a stake sale worth $1.13 billion, and tracking Asian peers as the Bank of Japan hiked interest rates for the first time in 17 years.

The blue-chip NSE Nifty 50 index lost 0.42% to 21,959.65, while the BSE Sensex shed 0.46% to 72,406.06, as of 9:18 a.m. IST.

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The IT index dropped 1.4%, leading the sectoral losses. TCS was down 3%, the top Nifty 50 loser.